Market basket utilized to calculate the cpi in aquilonia

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Reference no: EM1319077

Q. The market basket utilized to calculate the CPI in Aquilonia is 4 loaves of bread, 6 gallons of milk, 2 shirts also 2 pairs of pants. In 2005, bread cost $1.00 per loaf, milk cost $1.50 per gallon, and shirts cost $6.00 each also pants cost $10.00 per pair. In 2006, bread cost $1.50 per loaf, milk cost $2.00 per gallon, and shirts cost $7.00 each also pants cost $12.00 per pair. Using 2005 as the base year Illustrate what was Aquilonia's inflation rate in 2006?

Reference no: EM1319077

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